Modifies how the Consumer Financial Protection Bureau issues civil investigative demands for documents and testimony, adding a six-year deadline, requiring specific facts in each demand, and giving companies more ways to challenge demands.

• Requires each demand to be issued no later than 6 years after the violation and to reference specific facts about the conduct under inquiry.
• Lets a company's attorney submit questions on a demand's scope, with the Bureau responding within the shorter of 20 days or the time before the return date, and allows the Bureau to extend the return date and petition deadline.
• Keeps petitions to modify or set aside a demand confidential and adds grounds to challenge a demand, including that it is unduly burdensome, disproportionately expensive, outside the scope of the inquiry, or duplicative.
• Makes the Bureau's denial of a petition to modify or set aside a demand subject to judicial review.

• Financial Services Committee (House)

Finance and Financial Sector